Chinese buys first Bordeaux classed growth

27th September, 2012 by
Gabriel Stone

Château Bellefont-Belcier has become the first Bordeaux classed growth to be sold to a Chinese buyer.

Château Bellefont-Belcier

The 13-hectare St-Emilion grand cru estate is understood to have been bought by a Chinese industrialist who, according to French newspaper Sud-Ouest, employs 20,000 workers across his metal business empire.

This high profile acquisition is thought be part of the buyer’s diversification into wine, which he could potentially sell through his 40-strong chain of retail outlets in China.

Established in the 17th century, since 1994 the property in the commune of St Laurent-des-Combes has been co-owned by Jacques Berrebi, Alain Laguillaumie and Dominique Hébrand, one-time proprietor of Château Cheval Blanc. Prior to this recent exchange, it is reported to have been on the market for several years.

Although the details of the deal have not been disclosed, a classified estate in the St-Emilion appellation would expect to sell for between €1 million and €2m per hectare.

While Bellefont-Belcier is the first classed growth Bordeaux property to pass into Chinese hands, around 40 Bordeaux estates – mostly in appellations such as Entre-Deux-Mers, Côtes de Bordeaux and Côtes de Bourg – are now thought to have Chinese owners.

The pampered hedonistic French are kowtowing to the Chinese and selling off their history and tradition for a few gold coins. The Chinese industrialists most of them made up of vulgar, ostentatious peasants care very little about wine and its historical importance to the European, but rather the status and cache that it carries amongst the nouveau riche that has hatched out in the so-called booming economy of China. If everything is so great in China why are so many of them hanging out in the Occident?